The monthly close process should be standardized. Start by creating a list of standard journal entries that will promote consistency in monthly closings.
Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. Generally Accepted Accounting Principles (GAAP).
MBE CPAs announced today that Trae Finnegan has passed the Uniform CPA Exam, becoming a Certified Public Accountant in Wisconsin.
In 2014, a new accounting standard on how to recognize revenue from contracts was issued by the Financial Accounting Standards Board (FASB).
We wanted to make sure you were aware of a one-time Child Sales Tax Rebate that was approved by Governor Walker and the State Legislature.